THE NEXT STEP FOR YOUR BUSINESS
We often get approached by small businesses to discuss how we could help their company. So… how can we help you? If you have 100 or less employees, we are here to develop and manage your SIMPLE IRA plan.
STEPS TO SIMPLE IRA PLANS
So what does the process of getting SIMPLE IRA plans installed for your employees normally look like?
STEP 1) Schedule an Introductory Meeting to make sure Blue Jay is the best fit for you and your business. We’ll talk about your past experiences, future goals, and hopefully laugh a little. This is low pressure and free! We don’t charge a dime until we are managing your employees’ assets.
STEP 2) Once you decide that you would like to work with Blue Jay, we will come to your business and speak with your employees to introduce the basic principles of a SIMPLE IRA plan. At this time, employees decide whether or not they would like to participate. If they’re interested, they’ll fill out a data sheet with their personal information for the SIMPLE IRA application.
STEP 3) Blue Jay will come to your business again to meet one-on-one with each of your employees. During this second meeting, each employee will sign their SIMPLE IRA application and be given the opportunity to ask any personal questions they might have.
STEP 4) The next step is a waiting period. Opening your accounts can take up to two weeks. During this time, we may have to contact employees for additional information.
STEP 5) Once your accounts are open, we will provide you, the business owner, with a worksheet that will automatically calculate the check amount for your SIMPLE contribution. Using the SIMPLE worksheet, you will calculate how much your first contribution check will total. You will mail this check to Blue Jay Financial Group.
STEP 6) The last step is for you to fill out a Riskalyze quiz via email or text. This quiz will determine each employee’s risk tolerance for their investments.
STEP 7) Now we’re all set up! We will schedule a yearly meeting with your business to meet the employees and update their accounts. Beyond the schedule, both you and your employees should feel free to contact us whenever you need help!